Abaxis (NASDAQ:ABAX) Shines On Investors Wealth To Reports 38% Jump In Net Income- ABAX, ARNA, LLY, BSX, BMY, AET, THC

Shares of Abaxis Inc (NASDAQ:ABAX) surged on Friday following the blood analysis systems firm reported its profit increased by 38% in its fiscal 4Q on higher sales.

The Union City, Calif.-based firm reported late Thursday that its net income moved up to $4.7 million, or 21 cents a share, for the quarter ended March 31, increased from $3.4 million, or 15 cents a share, in the year-before quarter.

Analysts on average anticipated earnings of 16 cents a share, according to FactSet.

Abaxis stock rose $4.93, or 16% , to $34.75 in late afternoon trading after increasing to a 52-week high of $34.88 earlier.

Turning towards the sector Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) rose +21.86%, Eli Lilly & Co. (NYSE:LLY) grew +1.03%, Boston Scientific Corporation (NYSE:BSX) surged +1.46%, Bristol Myers Squibb Co. (NYSE:BMY) dropped -1.30%, Aetna Inc. (NYSE:AET) which decreased -3.95% and Tenet Healthcare Corporation (NYSE:THC) moved up +0.97%.

Abaxis Inc (NASDAQ:ABAX) stock in last session held volume of 520,114.00 shares as compare to its average volume of 100,794.00 shares. The stock after opening at $30.82 hit high price of $36.29 and then closed at $36.04 by scoring +20.86%.

As the revenue measures ABAX generated revenue of 151.42 million in the following twelve months income of $11.76 million. The Company showed a positive 7.77% in the net profit margin and in addition to in its operating margin which remained 12.09%. Company’s annual sales growth for the past five year was 15.82%.

The stock showed weekly upbeat performance of 21.31% which was maintained for the month at 21.92%. Likewise the positive performance for the quarter was recorded as 31.25% and for the year was 22.96% while the YTD performance remained at 30.25%.

The ABAX past twelve months price to sales ratio was 5.16 and price to cash ratio remained 13.54. As far as the returns are concern, the ABAX return on equity was recorded as 7.43% and increased 7.28% return on investment while its return on asset stayed at 6.62%.

 

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